Yiren Digital (NYSE:YRD) Sees Large Volume Increase – Still a Buy?

Yiren Digital Ltd. (NYSE:YRD) saw an uptick in trading volume on Monday . 122,377 shares traded hands during mid-day trading, a decline of 7% from the previous session’s volume of 132,136 shares.The stock last traded at $6.82 and had previously closed at $7.57.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Yiren Digital from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th.

Yiren Digital Stock Performance

The company has a market capitalization of $625.95 million, a PE ratio of 2.46 and a beta of 0.71. The company’s 50-day moving average is $5.52 and its 200 day moving average is $5.38.

Hedge Funds Weigh In On Yiren Digital

A number of hedge funds have recently bought and sold shares of the business. AXA S.A. raised its holdings in shares of Yiren Digital by 80.7% during the fourth quarter. AXA S.A. now owns 11,562 shares of the technology company’s stock valued at $55,000 after purchasing an additional 5,165 shares during the last quarter. Two Sigma Investments LP bought a new stake in Yiren Digital in the 4th quarter worth approximately $61,000. Invesco Ltd. purchased a new stake in Yiren Digital during the 4th quarter valued at $71,000. Ballentine Partners LLC bought a new position in shares of Yiren Digital during the 3rd quarter valued at $78,000. Finally, Creative Planning purchased a new position in shares of Yiren Digital in the 3rd quarter worth $89,000. Hedge funds and other institutional investors own 1.99% of the company’s stock.

About Yiren Digital

Yiren Digital Ltd. provides financial services through an AI-powered platform in China. Its platform provides a suite of financial and lifestyle services. The company offers financial services, which provides a portfolio of loan products to borrowers; insurance brokerage services; and consumption and lifestyle services, including non-financial products and services to meet various consumer needs.